Munich Personal RePEc Archive

Dinero como indicador de la inflación en Chile

Huaita, Franklin (2005): Dinero como indicador de la inflación en Chile.

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Abstract

This paper proposes a closed-economy new keynesian model to evaluate the role of high growth rate of monetary aggregates on the inflation determination in Chile the last years. We estimate a rational expectations equations system derived by the model through Generalized Method of Moments (GMM). Main results do not find statistical evidence of relevant additional information in monetary aggregates -M1A and M2A- to predict inflation that were not contained in lags of output gap.

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